Visa: Automatic payments based on layer2 Ethereum Starknet
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Visa : Automatic payments based on Ethereum

Visa sees potential in public blockchain networks for automatic recurring payments. The U.S. giant is experimenting with a solution based on the layer2 Ethereum Starknet.

On Monday, Visa published an article titled : “Automatic Payments for Self-Custody Wallets” describing how a solution would allow self-custody wallet owners to set up a system to automatically pay bills.

“In this technical paper, we use a new concept and one of the main proposals from Ethereum developers. It aims to explore how smart contracts can be implemented to provide automated programmable payments,”.

Visa has turned to Starknet, a popular ETH layer2 developed by startup Starwave. “With StarkNet’s account model, we were able to implement our delegable account solution, enabling automatic payments for self-deposit wallets,” .

According to the document, the solution allows, in “a few simple steps,” to set up recurring payments with a utility or subscription provider.

Visa sees potential in public blockchain with a solution based on the layer2 Ethereum Starknet.

To help our customers and partners innovate, we need to immerse ourselves in technologies that can bring real value to the payments ecosystem. We are focused on building our core competencies in the Web3 infrastructure layers and blockchain protocols that drive crypto development,” commented Catherine Gu, head of CBDC and Protocol at Visa, in a statement.

Like its rival Mastercard, Visa has been exploring the possibilities offered by blockchain technology and digital assets for several years.

Article written by:

Laeti Marison, also known as SatoshiBelle, is a multifaceted professional with a passion for community management, content creation, and digital marketing. With a diverse background in various roles, Laeti has consistently demonstrated her expertise and dedication in the field. Recognizing her potential, Laeti then took on the responsibilities of a Project and Community Manager at Magna Numeris and Cartam from November 2018 to March 2021. In this role, she showcased her ability to successfully lead projects and foster strong relationships within the community. Currently, Laeti serves as an SEO content writer, Digital Marketing Manager, and co-founder at magazine, starting from February 2022 till now. Through her expertise in digital marketing and her passion for the crypto industry, she has contributed to the success of the magazine, ensuring its content remains relevant, engaging, and informative.

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